The Employees' Provident Fund Organisation (EPFO) added 13.41 lakh new members in October 2024. The latest payroll data released by the Ministry of Labour reflects increasing employment opportunities and awareness of employee benefits. This is the result of effective programmes and expansion of reach of EPFO.

Important role of 18-25 age group

According to the data, the 18-25 age group had the highest share of 58.49 percent among new members. 5.43 lakh new members were added in this age group. This indicates that most of the youth joining the organized workforce are first-time job seekers.

Women's participation increased

In October 2024, 2.09 lakh new women members joined EPFO. This figure is 2.12 percent more than last year. There was a net increase of 2.79 lakh in the number of women members, which reflects a positive change towards a diverse and inclusive workforce.

Those who changed jobs chose EPFO

During October, 12.90 lakh members rejoined the EPFO ​​after exiting it. These members changed their jobs and joined new establishments covered under the EPFO. They chose to transfer their accumulated amount, instead of final settlement.

Maharashtra leads in participation of states

The top five states/union territories accounted for 61.32 per cent of the new membership additions to EPFO. Maharashtra topped the list with a net addition of 22.18 per cent. Karnataka, Tamil Nadu, Delhi, Haryana, Telangana and Gujarat also added a large number of new members.

Youth and employment: signs of the future

It is clear from the payroll data that the participation of youth and women in the organized workforce is increasing rapidly. This reflects the increase in employment opportunities and growing awareness about the schemes of EPFO.